3. Offers and Counter-Offers
When a prospective buyer makes an offer, it will be on a signed, standardized document presented by a Realtor®. While the time-honored ritual of offers and counter-offers may seem as formal as a Kabuki dance, there are several good reasons for this. Realtors® have the experience and technical expertise necessary to negotiate a path through a forest of regulations, disclaimers, disclosures and stipulations that becomes more and more difficult to navigate with the passage of each legislative session.The offer will probably be lower than your asking price. What defines an acceptable margin will be for you to decide. If you have listed with The Garner Group, an experienced agent will advise you regarding market conditions and reasonable expectations.
The classic scenario is for you to return a counter-offer somewhere in the middle, or to undergo a series of offers and counters that end with an acceptable compromise. This procedure is not etched in stone, however. One or both parties may want to cut to the chase. There also may be other considerations to address such as contingencies, rapid or delayed closing, included furniture or appliances, and resolution of inspection reports.
This is another reason to have a Realtor® by your side. Selling a home—or buying one, for that matter—is not a “quick and dirty” exercise in this era of strict regulation.
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